Canadian Imperial Bank of Commerce Upgrades MDA Space (TSE:MDA) to Strong-Buy

MDA Space (TSE:MDA) was upgraded by investment analysts at Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

MDA has been the topic of several other research reports. Scotia upped their price target on MDA Space from C$49.00 to C$53.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. ATB Cormark Capital Markets dropped their price objective on MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Scotiabank upgraded shares of MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. BMO Capital Markets raised their target price on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Finally, Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. Four analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$51.90.

MDA Space Price Performance

Shares of MDA opened at C$53.79 on Wednesday. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$54.40. The stock has a market cap of C$7.46 billion, a PE ratio of 67.24 and a beta of -0.92. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The firm has a fifty day moving average price of C$43.14 and a 200 day moving average price of C$34.72.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. As a group, sell-side analysts anticipate that MDA Space will post 0.9605084 EPS for the current year.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.